China Is Getting Closer To Pulling The Plug On The Dollar!

[youtube=http://www.youtube.com/watch?v=ILKolTI1s50]

• China Is Getting Closer To Pulling The Plug On The Dollar! 
  by http://truthingold.blogspot.ca/ 
  “…the reason for living was to get ready to stay dead for a long time” – Addie from, “As I Lay Dying by William Faulkner
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  Many of you are aware by now that China has been methodically eradicating the use of the dollar in its bi-lateral trade with most of its largest trading partners.  It has put in place large yuan-based currency swaps which are now used to settle trade with most of Asia and some large western hemisphere countries, including France and the UK.  You are also aware of the enormous amount of gold that China has been importing and accumulating (LINK, for example).  It’s funny how research and investment analysts can find the data to prove this but somehow the World Gold Council and the GFMS seem to be unable to find it.
  It looks like China is now getting ready to take the next step in “unplugging” the U.S. dollar as the world’s reserve currency:
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  The People’s Bank of China said the country does not benefit any more from increases in its foreign-currency holdings, adding to signs policy makers will rein in dollar purchases that limit the yuan’s appreciation – LINKI have been thinking for quite some time – dating back to 2003, to be exact – that China’s end game, “check mate” move would be to eventually eliminate the dollar from its trade activities and roll out a new currency that would be backed by gold.
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  At the same time China would implement a huge revaluation of gold in yuan terms in order to establish the necessary market value of its gold hoard to create an effective backing of the new currency.  Now, of course, it won’t happen exactly like this but in order to envision how a global currency reset will occur we need to think along those lines.   However the mechanism is effected, the result will be a massive devaluation of the dollar.  This is something that we all know is an inevitable event and that the natural forces of the market would eventually enforce,  but something that the U.S. elitists have been deferring  by means of insidious political and military-based  coercion.  And in order for it occur it will likely require that China tosses a straw on the camel’s back in order to help the natural market forces override the U.S. repression of them.
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  There’s really no way of determining a time-frame for the actual event so please don’t ask me my view of when it will happen.  What I will say is that we can observe certain “environmental” signals to let us know whether its sooner or later.  Based on the blatant and extreme corruption exhibited by our political and business leaders and based on what I sense is desperation and unrest being reflected by a growing number of dissatisfied middle class people (“middle class” here is defined as anyone who does not have enough liquid wealth to buy their own politician, so 99.9% of us),  I suspect that “the event” is a lot closer than most us can possibly discern.
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  And it looks like the U.S. dollar and the American way of life is getting ready to stay dead for a long time.